excess equity base
Defined in 1 dictionary — U.S. Code
United States Code
26 U.S.C. § 809 — in this section
The term “excess equity base” means the excess of—
(i) the average equity base of the company for the taxable year, over
(ii) the amount which would be its average equity base if its equity percentage equaled the following percentage:
In no case shall the excess equity base for any taxable year be greater than the excess equity base for the company's first taxable year beginning in 1984.